Flutter Entertainment (NYSE:FLUT) Price Target Lowered to $271.00 at BTIG Research

Flutter Entertainment (NYSE:FLUT) had its price target lowered by investment analysts at BTIG Research from $321.00 to $271.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price objective points to a potential upside of 25.54% from the company’s previous close.

FLUT has been the topic of a number of other research reports. UBS Group reiterated a “buy” rating and set a $360.00 price objective (up previously from $340.00) on shares of Flutter Entertainment in a research note on Friday, August 8th. Oppenheimer lowered their price objective on shares of Flutter Entertainment from $350.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 14th. Bank of America reiterated a “neutral” rating and issued a $250.00 price objective (down previously from $325.00) on shares of Flutter Entertainment in a research note on Tuesday, November 4th. Peel Hunt downgraded Flutter Entertainment from an “add” rating to a “hold” rating in a research report on Friday, August 8th. Finally, Truist Financial reduced their target price on Flutter Entertainment from $350.00 to $335.00 and set a “buy” rating on the stock in a research report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $323.56.

Flutter Entertainment Price Performance

Shares of NYSE FLUT traded down $18.59 during midday trading on Thursday, hitting $215.86. The company had a trading volume of 1,024,219 shares, compared to its average volume of 2,317,254. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The business has a 50-day simple moving average of $257.11 and a two-hundred day simple moving average of $268.97. Flutter Entertainment has a twelve month low of $196.88 and a twelve month high of $313.68. The firm has a market capitalization of $38.01 billion, a price-to-earnings ratio of 105.66 and a beta of 1.84.

Flutter Entertainment (NYSE:FLUT) last announced its earnings results on Wednesday, November 12th. The company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.87. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The company had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the previous year, the business posted $1.27 earnings per share. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Flutter Entertainment will post 4.17 earnings per share for the current year.

Flutter Entertainment announced that its Board of Directors has approved a share buyback plan on Friday, August 8th that allows the company to repurchase $245.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, CEO Jeremy Peter Jackson sold 2,112 shares of Flutter Entertainment stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $292.42, for a total value of $617,591.04. Following the transaction, the chief executive officer owned 31,944 shares in the company, valued at approximately $9,341,064.48. This trade represents a 6.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amy Howe sold 4,097 shares of the business’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $305.91, for a total value of $1,253,313.27. Following the completion of the transaction, the chief executive officer owned 69,850 shares in the company, valued at approximately $21,367,813.50. This trade represents a 5.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.09% of the stock is owned by insiders.

Institutional Investors Weigh In On Flutter Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of FLUT. ORG Partners LLC raised its holdings in Flutter Entertainment by 300.0% in the 2nd quarter. ORG Partners LLC now owns 100 shares of the company’s stock valued at $28,000 after acquiring an additional 75 shares during the period. Barrett & Company Inc. purchased a new position in shares of Flutter Entertainment during the 2nd quarter valued at $29,000. JFS Wealth Advisors LLC purchased a new position in shares of Flutter Entertainment in the third quarter valued at about $27,000. SVB Wealth LLC purchased a new position in shares of Flutter Entertainment in the first quarter worth $27,000. Finally, JCIC Asset Management Inc. purchased a new position in shares of Flutter Entertainment in the 3rd quarter worth $32,000.

About Flutter Entertainment

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.